Armada Mercantile Ltd., (CSE: ARM) and (OTC US: AAMTF) would like to provide a short update to shareholders regarding its commercial finance operations.
Record Monthly Invoice Portfolio: Our “high margin small ticket” invoice portfolio reached an all-time high of US$8,708,202.13 up from US$7,368,805.97 in December. The continued growth in business is attributable to ongoing demand for capital to fund and grow businesses Nationwide. As the invoice portfolio grows, generally, the fee income will grow. December was an above average month for invoice collections and fee income, while January was an average month. To date, February is above average at this point. For our ownership affiliated company, the total invoice portfolio is approximately $12,000,000.
For more information pertaining to Armada Mercantile Ltd., visit: www.armadamercantile.com.
Contact Telephone Number: 916-746-0029
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release. The risks and uncertainties discussed in documents filed by the Company with the British Columbia, Alberta and Ontario Securities Commissions.